Retirement and re-employment ages to be raised by 3 years, CPF contribution rates for older workers to go up
Read more at https://www.todayonline.com/singapore/govt-raise-retirement-age-65-and-re-employment-age-70-2030-cpf-contribution-rates-older
THURSDAY 16 JULY 2020
SINGAPORE — Twenty years after the retirement age was last raised to 62, the Government will increase it to 65 by about 2030, while the re-employment age will go up from the current age of 67 to 70, Prime Minister Lee Hsien Loong announced at the National Day Rally on Sunday (Aug 18).
And in a bid to support older workers and boost their retirement savings, Mr Lee also said that the Government will raise their Central Provident Fund (CPF) contribution rates starting from 2021, over the next 10 years or so “depending on economic conditions”.
Read more at https://www.todayonline.com/singapore/govt-raise-retirement-age-65-and-re-employment-age-70-2030-cpf-contribution-rates-older
By the end of that period, the CPF contribution rate for workers aged above 55 to 60 — which currently stands at 26 per cent — will be 37 per cent, the full rate and on a par with younger workers.
Read more at https://www.todayonline.com/singapore/govt-raise-retirement-age-65-and-re-employment-age-70-2030-cpf-contribution-rates-older
my own calculation
As for the opposition, it is interpret as
https://singaporeuncensored.com/lee-hsien-loong-retirement-age-will-be-raised-from-62-to-65-by-2030/
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